Price Target Changed • Apr 23
Price target increased by 9.5% to NT$2,278 Up from NT$2,082, the current price target is an average from 14 analysts. New target price is 7.4% below last closing price of NT$2,460. Stock is up 111% over the past year. The company is forecast to post earnings per share of NT$100 for next year compared to NT$70.17 last year. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$2,640, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 217% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$3,789 per share. Price Target Changed • Mar 27
Price target increased by 7.3% to NT$2,082 Up from NT$1,939, the current price target is an average from 14 analysts. New target price is 7.7% below last closing price of NT$2,255. Stock is up 52% over the past year. The company is forecast to post earnings per share of NT$98.14 for next year compared to NT$70.17 last year. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$2,070, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 150% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$2,081 per share. Reported Earnings • Mar 14
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: NT$70.17 (down from NT$82.77 in FY 2024). Revenue: NT$33.8b (up 12% from FY 2024). Net income: NT$7.87b (down 15% from FY 2024). Profit margin: 23% (down from 31% in FY 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 2.9%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Mar 13
Price target increased by 10% to NT$1,812 Up from NT$1,641, the current price target is an average from 14 analysts. New target price is approximately in line with last closing price of NT$1,745. Stock is up 12% over the past year. The company is forecast to post earnings per share of NT$68.21 for next year compared to NT$82.77 last year. Aankondiging • Mar 12
Lotes Co., Ltd., Annual General Meeting, Jun 12, 2026 Lotes Co., Ltd., Annual General Meeting, Jun 12, 2026. Location: no,59, wu hsun st., anle district, keelung city Taiwan Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$1,495, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 98% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$2,844 per share. New Risk • Feb 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (115% cash payout ratio). Share price has been volatile over the past 3 months (6.9% average weekly change). Reported Earnings • Nov 15
Third quarter 2025 earnings: Revenues and EPS in line with analyst expectations Third quarter 2025 results: EPS: NT$20.71 (up from NT$18.33 in 3Q 2024). Revenue: NT$8.42b (up 4.4% from 3Q 2024). Net income: NT$2.32b (up 12% from 3Q 2024). Profit margin: 28% (up from 26% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 13% per year. Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$1,460, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 118% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$2,605 per share. Reported Earnings • Aug 15
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: NT$6.69 (down from NT$20.01 in 2Q 2024). Revenue: NT$8.34b (up 13% from 2Q 2024). Net income: NT$749.0m (down 67% from 2Q 2024). Profit margin: 9.0% (down from 30% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) also missed analyst estimates by 59%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 20% per year. Upcoming Dividend • Jul 24
Upcoming dividend of NT$41.72 per share Eligible shareholders must have bought the stock before 31 July 2025. Payment date: 29 August 2025. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). In line with average of industry peers (3.0%). Reported Earnings • May 15
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: EPS: NT$20.22 (up from NT$18.57 in 1Q 2024). Revenue: NT$7.77b (up 22% from 1Q 2024). Net income: NT$2.28b (up 9.9% from 1Q 2024). Profit margin: 29% (down from 33% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.2%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 18% per year. Price Target Changed • May 10
Price target decreased by 9.5% to NT$1,706 Down from NT$1,884, the current price target is an average from 11 analysts. New target price is 36% above last closing price of NT$1,255. Stock is down 16% over the past year. The company is forecast to post earnings per share of NT$88.39 for next year compared to NT$82.77 last year. Aankondiging • May 01
Lotes Co., Ltd to Report Q1, 2025 Results on May 09, 2025 Lotes Co., Ltd announced that they will report Q1, 2025 results on May 09, 2025 Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$1,275, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 89% over the past three years. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$1,165, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 79% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$2,272 per share. Reported Earnings • Mar 16
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: NT$82.77 (up from NT$50.65 in FY 2023). Revenue: NT$30.1b (up 23% from FY 2023). Net income: NT$9.28b (up 66% from FY 2023). Profit margin: 31% (up from 23% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.6%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Mar 14
Lotes Co., Ltd, Annual General Meeting, Jun 13, 2025 Lotes Co., Ltd, Annual General Meeting, Jun 13, 2025, at 09:00 Taipei Standard Time. Location: no,59, wu hsun st., anle district, keelung city Taiwan Aankondiging • Mar 01
Lotes Co., Ltd to Report Fiscal Year 2024 Results on Mar 10, 2025 Lotes Co., Ltd announced that they will report fiscal year 2024 results on Mar 10, 2025 Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$2,000, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 214% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$2,806 per share. New Risk • Dec 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.1% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 17
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: EPS: NT$18.33 (up from NT$16.77 in 3Q 2023). Revenue: NT$8.07b (up 25% from 3Q 2023). Net income: NT$2.06b (up 10% from 3Q 2023). Profit margin: 26% (down from 29% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.8%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Nov 13
Price target increased by 7.1% to NT$1,958 Up from NT$1,827, the current price target is an average from 12 analysts. New target price is 13% above last closing price of NT$1,740. Stock is up 90% over the past year. The company is forecast to post earnings per share of NT$78.09 for next year compared to NT$50.65 last year. Aankondiging • Nov 05
Lotes Co., Ltd to Report Q3, 2024 Results on Nov 11, 2024 Lotes Co., Ltd announced that they will report Q3, 2024 results on Nov 11, 2024 Buy Or Sell Opportunity • Oct 22
Now 21% undervalued Over the last 90 days, the stock has risen 13% to NT$1,665. The fair value is estimated to be NT$2,098, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.4% over the last 3 years. Earnings per share has grown by 23%. Revenue is forecast to grow by 41% in 2 years. Earnings are forecast to grow by 45% in the next 2 years. Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$1,655, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 218% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$2,100 per share. Upcoming Dividend • Aug 21
Upcoming dividend of NT$25.75 per share Eligible shareholders must have bought the stock before 28 August 2024. Payment date: 25 September 2024. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (2.8%). Reported Earnings • Aug 16
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: NT$20.00 (up from NT$11.56 in 2Q 2023). Revenue: NT$7.37b (up 29% from 2Q 2023). Net income: NT$2.24b (up 74% from 2Q 2023). Profit margin: 30% (up from 22% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Aug 02
Lotes Co., Ltd to Report Q2, 2024 Results on Aug 09, 2024 Lotes Co., Ltd announced that they will report Q2, 2024 results on Aug 09, 2024 Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$1,390, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 175% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$1,876 per share. Buy Or Sell Opportunity • Jul 18
Now 22% undervalued Over the last 90 days, the stock has risen 7.0% to NT$1,460. The fair value is estimated to be NT$1,876, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years. Earnings per share has grown by 23%. Revenue is forecast to grow by 45% in 2 years. Earnings are forecast to grow by 55% in the next 2 years. Reported Earnings • May 18
First quarter 2024 earnings: EPS exceeds analyst expectations First quarter 2024 results: EPS: NT$18.57 (up from NT$10.96 in 1Q 2023). Revenue: NT$6.35b (up 11% from 1Q 2023). Net income: NT$2.07b (up 75% from 1Q 2023). Profit margin: 33% (up from 21% in 1Q 2023). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 15%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • May 11
Price target increased by 7.2% to NT$1,742 Up from NT$1,625, the current price target is an average from 13 analysts. New target price is 16% above last closing price of NT$1,500. Stock is up 67% over the past year. The company is forecast to post earnings per share of NT$70.24 for next year compared to NT$50.65 last year. Price Target Changed • May 06
Price target increased by 8.2% to NT$1,699 Up from NT$1,570, the current price target is an average from 13 analysts. New target price is 15% above last closing price of NT$1,475. Stock is up 59% over the past year. The company is forecast to post earnings per share of NT$68.05 for next year compared to NT$50.65 last year. Aankondiging • May 02
Lotes Co., Ltd to Report Q1, 2024 Results on May 10, 2024 Lotes Co., Ltd announced that they will report Q1, 2024 results on May 10, 2024 Buy Or Sell Opportunity • Apr 24
Now 29% overvalued after recent price rise Over the last 90 days, the stock has risen 43% to NT$1,410. The fair value is estimated to be NT$1,093, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 26%. Revenue is forecast to grow by 38% in 2 years. Earnings are forecast to grow by 59% in the next 2 years. Aankondiging • Mar 21
Lotes Co., Ltd, Annual General Meeting, Jun 13, 2024 Lotes Co., Ltd, Annual General Meeting, Jun 13, 2024. Buy Or Sell Opportunity • Mar 21
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to NT$1,355. The fair value is estimated to be NT$1,091, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 26%. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 57% in the next 2 years. Reported Earnings • Mar 19
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: NT$50.65 (down from NT$58.70 in FY 2022). Revenue: NT$24.5b (down 9.7% from FY 2022). Net income: NT$5.59b (down 11% from FY 2022). Profit margin: 23% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.5%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Mar 13
Price target increased by 16% to NT$1,288 Up from NT$1,108, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of NT$1,250. Stock is up 58% over the past year. The company is forecast to post earnings per share of NT$51.40 for next year compared to NT$58.70 last year. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$1,200, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 163% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$817 per share. Price Target Changed • Jan 12
Price target increased by 7.9% to NT$1,104 Up from NT$1,023, the current price target is an average from 11 analysts. New target price is 14% above last closing price of NT$970. Stock is up 24% over the past year. The company is forecast to post earnings per share of NT$53.59 for next year compared to NT$58.70 last year. Buying Opportunity • Nov 08
Now 20% undervalued Over the last 90 days, the stock is up 20%. The fair value is estimated to be NT$1,094, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 32%. Revenue is forecast to grow by 21% in 2 years. Earnings is forecast to grow by 31% in the next 2 years. Buying Opportunity • Sep 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 4.2%. The fair value is estimated to be NT$1,078, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 32%. Revenue is forecast to grow by 21% in 2 years. Earnings is forecast to grow by 30% in the next 2 years. Reported Earnings • Aug 13
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: NT$11.56 (down from NT$14.22 in 2Q 2022). Revenue: NT$5.72b (down 14% from 2Q 2022). Net income: NT$1.28b (down 15% from 2Q 2022). Profit margin: 22% (in line with 2Q 2022). Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) also missed analyst estimates by 1.1%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Aug 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 23%. The fair value is estimated to be NT$916, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 34%. Revenue is forecast to grow by 17% in 2 years. Earnings is forecast to grow by 20% in the next 2 years. Upcoming Dividend • Jul 27
Upcoming dividend of NT$25.18 per share at 3.3% yield Eligible shareholders must have bought the stock before 03 August 2023. Payment date: 31 August 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.1%). Buying Opportunity • Jul 17
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be NT$983, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 34%. Revenue is forecast to grow by 19% in 2 years. Earnings is forecast to grow by 21% in the next 2 years. New Risk • Jun 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.2% average weekly change). Shareholders have been diluted in the past year (4.9% increase in shares outstanding). Reported Earnings • May 17
First quarter 2023 earnings: EPS exceeds analyst expectations First quarter 2023 results: EPS: NT$10.96 (down from NT$13.03 in 1Q 2022). Revenue: NT$5.73b (down 6.8% from 1Q 2022). Net income: NT$1.18b (down 15% from 1Q 2022). Profit margin: 21% (down from 23% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.6%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 31% per year. Reported Earnings • Mar 26
Full year 2022 earnings: Revenues and EPS in line with analyst expectations Full year 2022 results: EPS: NT$58.70 (up from NT$33.32 in FY 2021). Revenue: NT$27.1b (up 27% from FY 2021). Net income: NT$6.25b (up 80% from FY 2021). Profit margin: 23% (up from 16% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$918, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 294% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$1,189 per share. Buying Opportunity • Mar 02
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.6%. The fair value is estimated to be NT$1,052, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 32%. Revenue is forecast to grow by 27% in 2 years. Earnings is forecast to grow by 25% in the next 2 years. Buying Opportunity • Feb 14
Now 20% undervalued Over the last 90 days, the stock is up 3.4%. The fair value is estimated to be NT$1,045, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 32%. Revenue is forecast to grow by 27% in 2 years. Earnings is forecast to grow by 25% in the next 2 years. Reported Earnings • Nov 16
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: NT$17.91 (up from NT$8.91 in 3Q 2021). Revenue: NT$7.27b (up 27% from 3Q 2021). Net income: NT$1.91b (up 106% from 3Q 2021). Profit margin: 26% (up from 16% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Jen-Chun Wang was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 15
Second quarter 2022 earnings: EPS exceeds analyst expectations Second quarter 2022 results: EPS: NT$14.21 (up from NT$6.85 in 2Q 2021). Revenue: NT$6.65b (up 37% from 2Q 2021). Net income: NT$1.51b (up 113% from 2Q 2021). Profit margin: 23% (up from 15% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 17%. Over the next year, revenue is forecast to grow 13%, compared to a 8.6% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 27
Upcoming dividend of NT$15.92 per share Eligible shareholders must have bought the stock before 03 August 2022. Payment date: 31 August 2022. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (4.6%). Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$610, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 9x in the Electronic industry in Taiwan. Total returns to shareholders of 205% over the past three years. Major Estimate Revision • May 20
Consensus EPS estimates increase by 14% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from NT$25.4b to NT$26.2b. EPS estimate increased from NT$43.80 to NT$50.13 per share. Net income forecast to grow 37% next year vs 11% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$841 to NT$929. Share price was steady at NT$824 over the past week. Price Target Changed • May 15
Price target increased to NT$916 Up from NT$841, the current price target is an average from 10 analysts. New target price is 13% above last closing price of NT$810. Stock is up 58% over the past year. The company is forecast to post earnings per share of NT$48.12 for next year compared to NT$33.32 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Jen-Chun Wang was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Mar 31
Lotes Co., Ltd, Annual General Meeting, Jun 17, 2022 Lotes Co., Ltd, Annual General Meeting, Jun 17, 2022. Reported Earnings • Mar 28
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: NT$33.32 (up from NT$26.41 in FY 2020). Revenue: NT$21.4b (up 24% from FY 2020). Net income: NT$3.47b (up 27% from FY 2020). Profit margin: 16% (in line with FY 2020). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 18%, compared to a 10% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Feb 14
Now 21% undervalued Over the last 90 days, the stock is up 3.1%. The fair value is estimated to be NT$868, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% per annum over the last 3 years. Earnings per share has grown by 24% per annum over the last 3 years. Price Target Changed • Nov 19
Price target increased to NT$717 Up from NT$663, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of NT$705. Stock is up 64% over the past year. The company is forecast to post earnings per share of NT$31.14 for next year compared to NT$26.41 last year. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$8.91 (vs NT$7.46 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: NT$5.73b (up 24% from 3Q 2020). Net income: NT$925.4m (up 20% from 3Q 2020). Profit margin: 16% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 19
Upcoming dividend of NT$13.30 per share Eligible shareholders must have bought the stock before 26 August 2021. Payment date: 24 September 2021. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (3.2%). Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$6.85 (vs NT$8.69 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$4.86b (up 2.6% from 2Q 2020). Net income: NT$709.1m (down 21% from 2Q 2020). Profit margin: 15% (down from 19% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$8.06 (vs NT$3.99 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$4.74b (up 51% from 1Q 2020). Net income: NT$833.7m (up 102% from 1Q 2020). Profit margin: 18% (up from 13% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 26
Full year 2020 earnings released: EPS NT$26.41 (vs NT$20.11 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$17.3b (up 15% from FY 2019). Net income: NT$2.73b (up 32% from FY 2019). Profit margin: 16% (up from 14% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 33% per year. Is New 90 Day High Low • Feb 18
New 90-day high: NT$577 The company is up 34% from its price of NT$430 on 20 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$365 per share. Is New 90 Day High Low • Jan 06
New 90-day high: NT$531 The company is up 9.0% from its price of NT$488 on 08 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$328 per share. Analyst Estimate Surprise Post Earnings • Nov 14
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) missed analyst estimates by 3.8%. Over the next year, revenue is forecast to grow 9.9%, compared to a 10.0% growth forecast for the Electronic industry in Taiwan.